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India's debt to GDP ratio may rise to 87.6%: report

Jul 20, 2020 17:08 IST

India's debt to GDP ratio could climb to 87.6% this fiscal, up from 72.2% last year, because of a collapsing GDP and consequently higher borrowings, said a research note by SBI. In absolute terms, the SBI research sees India's gross debt rising to around ₹170 lakh crore this fiscal. The current level of foreign exchange reserves is sufficient to meet any external debt. On the internal debt, since most of the debt is domestically owned, the debt servicing of the same is not an issue, the note said.

Economy